Active discussions

Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Talk
Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

See all MNHQ comments on this thread

Original poster

Car on tick - advise please

51 replies

BMWqueen · 16/10/2021 20:04

Hiya
never had a car on tick always bought outright
Current car had about 7 years and paid £10k cash.. since then done ivf and now only have £5k in saving and just to now having a daughter and for emergencies I would like to keep that cash where it is
Soooooo thinking only way to get a car is on the tick and I only have bmw don’t have many luxury in life but love my cars
So my current is 60 plate and want doming 17plate ish
So looking at £15k
what’s your thoughts on the idea, don’t even know what the money payments would be about or anything
Also I’m sahm on UC so would I be accepted ive got good credit rating and partner works ?

Thanks

OP posts:
Original poster
BMWqueen · 16/10/2021 23:00

@SherbertFace I could but want an upgrade anyway now :)

OP posts:
Original poster
BMWqueen · 16/10/2021 23:01

Yes wages and UC combined as said in previous comment

OP posts:
Elieza · 17/10/2021 10:06

Lots of us want an upgrade. And want it all: a stable housing situation, babies, partner, nice car etc. But we can’t all get one as our situation doesn’t allow. That’s life unfortunately.

To be honest, although you said your relationship is strong, these boards are full of people who were in your situation and are now separated. It’s a worry. Children put a tremendous stain on things. Especially two wee ones. If he walks, you’ll be in trouble financially. Especially if you have car debt which you couldn’t afford to repay and would have to give it back. And then you’d have no car. Keep your own car. Get a nice one once you return to work. Save up now for then if you can.

Re benefits, make sure you’re personal circumstances are up to date, ie you’re claiming appropriate benefits as a partner of someone earning £2k so you don’t end up in trouble, paying back benefits.

SAHM is a lifestyle choice. It’s not a well paid post unfortunately.

Original poster
BMWqueen · 17/10/2021 10:10

Got 5k going to sell partners bike for 2k and going to lend 3k off family member and get a nice ish bmw for £10k bought outright
Thanks all :)

OP posts:
Original poster
BMWqueen · 17/10/2021 10:10

Can save 5k up again x

OP posts:
mrrabbit · 17/10/2021 10:32

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk guidelines.

dementedpixie · 17/10/2021 10:34

'On Tick' = taking out a loan rather then paying for it outright

dementedpixie · 17/10/2021 10:37

idioms.thefreedictionary.com/buying+on+tick

noloh1 · 17/10/2021 10:40

What’s with all the arsey comments? I don’t get it. I’m sure there are plenty of families where one parent is SAH, with a car on finance?!

inmyslippers · 17/10/2021 10:41

I personally would not go down the finance route. I'd rather save and pay it off in one. Circumstances can change very quickly. £200 pcm May seem affordable now but you never know what's around the corner

clockover · 17/10/2021 11:03

@noloh1

What’s with all the arsey comments? I don’t get it. I’m sure there are plenty of families where one parent is SAH, with a car on finance?!

Whilst claiming universal credit, with £5k in the bank and another car?

Nah. OP asked for advice and part of that advice has been people pointing out this is a stupid idea.

Original poster
BMWqueen · 17/10/2021 11:15

Thanks guys

OP posts:
Woeismethischristmas · 17/10/2021 11:19

@KeyboardWorriers

I think it means borrowed money *@Yogawankonobi* ... It's very dated terminology though! Probably largely used by men past their prime these days Wink
Used to be really common where I am. My first job in a bingo hall aged 16 all the staff had tenner tick accounts at the local chippie.
Longdistance · 17/10/2021 11:29

Delboy in OFAH used to say ‘on the tick’ when referring to someone with a loan. Sorry, off on a tangent there.

Elieza · 17/10/2021 14:44

It won’t be bought outright though as you still owe a family member three grand.

If they let you pay over three years that’s presumably about £100 a month. Hopefully that will be affordable for you.

And that the person lending you the money is content to wait that long and that their circumstances don’t change in the interim.

“Neither a borrower or a lender be” as the saying goes.

Welshiefluff · 17/10/2021 20:56

Hang about if you are the stay at home mum why is your partner not buying their own car? Something does not add up here.

Tell them to buy a car and keep your current one and your savings in the bank.

Original poster
BMWqueen · 17/10/2021 21:38

I want an upgrade anyway and the savings are mainly his
thanks all I know what I’m doing now
Take care all stay safe x

OP posts:
SpeakingFranglais · 24/10/2021 06:53

I’m sorry but obvious thing from me is you don’t need a BMW and the associated running costs. What wrong with a Micra?

Tomthumbsbigbum · 24/10/2021 07:02

Whilst you've got a young baby and on uc why don't you live within your means. You could get a perfectly good car for around 3k and still have some savings.

We'd all love nice BMWs, but reality doesn't allow.

careerchangeperhaps · 24/10/2021 07:16

Live within your means. You want to buy a £15k car when you don't have a job (presumably this would be more than £15k with interest)? That's nuts.

Get a cheaper secondhand car (which would cost no more than £2-£3k) for days out with your LO and keep some savings in the bank.

Tranquilitybasehotelandcasino · 27/10/2021 01:43

Wouldn’t you rather save some money and look at right to buy? That way you would have something to your name that may increase in value rather than depreciate. I don’t understand why anyone would want to own an expensive car when they’re still in rented accommodation.

TasteTheMeatNotTheHeat · 27/10/2021 01:51

Not sure if you're still here OP, but I am the same as you in that I have always bought my things outright and never had car finance. However, I have learned that car finance is an umbrella term covering a lot of different types of loans, and some of them can actually be a pretty good deal. You just need to do some research and shop around.

Welshiefluff · 27/10/2021 08:16

You are on UC, not working and have a little kid.

Every pound you waste on a flash car is a pound you do not have to spend on your daugther. This is really selfish in my opinion.

By all means update your current car if there is something wrong with it or not big enough but to spend £15k on a fancy German brand is very immature when you have more important things to spend your money on.

Original poster
BMWqueen · 27/10/2021 09:32

I spent £10k plus on having my daughter (ivf) so can have a little treat myself

Thanks all will have new car after Christmas

OP posts:
Elieza · 27/10/2021 14:10

A fifteen grand car is hardly a “little treat”!

Especially when you aren’t working.

I wonder if there is more to this than meets the eye. Sometimes when a much longer for baby arrives it’s not the perfection you thought it would be. It’s hard work. Sleep deprivation. Crying and guilt and worry and all sorts of consider emotions. For some. Plus there can be hormonal issues as well as emotional ones. It’s a package deal!

Could you be suffering from post natal depression? Needing a treat to cheer you up? Thinking with your heart rather than your head?

No offence if not. Just saying this as we don’t know you from Adam and you appear to be making choices that would suit the life you used to have.
You arent in that life any more.
You’re a non working mum with no income buying an expensive car that’s going to need expensive servicing and expensive parts because you like new cars.

All of this you could afford before.
That was then. This is now. Sometimes you need to make sacrifices for family reasons. Your fancy car may be one of them.